Exhibit 99.1

For Immediate Release:

DDR REPORTS OPERATING FFO PER DILUTED SHARE

OF $0.24 FOR THE QUARTER ENDED SEPTEMBER 30, 2011

BEACHWOOD, OHIO, October 27, 2011 – DDR Corp. (NYSE: DDR) today announced operating results for the quarter ended September 30, 2011.

SIGNIFICANT THIRD QUARTER ACTIVITY

“We are pleased to report another strong quarter of operating metrics highlighted by continued momentum in leasing transactions generated from growing retailers seeking high-quality real estate in a supply constrained market,” commented DDR’s president and chief executive officer, Daniel B. Hurwitz. “In addition, our ability to source attractive investment opportunities that support the continuation of our capital recycling strategy will provide compelling returns to our shareholders and continue to improve our overall asset quality.”

FINANCIAL HIGHLIGHTS

The Company’s third quarter operating Funds From Operations (“FFO”) was $67.4 million, or $0.24 per diluted share, before $59.3 million of net adjustments. The net adjustments do not include approximately $6.6 million of gains recognized on asset sales already excluded from FFO.

The charges and gains, primarily non-cash, for the periods ended September 30, 2011, are summarized as follows (in millions):

FFO applicable to common shareholders for the three-month period ended September 30, 2011, including the above net adjustments, was $8.1 million, or $0.03 per diluted share, which compares to FFO of $37.1 million, or $0.14 per diluted share, for the prior-year comparable period. The decrease in FFO for the three-month period ended September 30, 2011, is primarily the result of an increase in the aggregate impairment charges recorded in 2011 offset by the effect of the non-cash valuation adjustments associated with the warrants issued to the Otto family that were exercised in full for cash in the first quarter of 2011.

FFO applicable to common shareholders for the nine-month period ended September 30, 2011, including the above net adjustments, was $121.3 million, or $0.36 per diluted share, which compares to FFO of $32.7 million, or $0.13 per diluted share, for the prior-year comparable period. The increase in FFO for the nine-month period ended September 30, 2011, is primarily the result of a reduction in the aggregate impairment charges recorded in 2011, the gain on change in control of interests related to the Company’s acquisition of two assets from unconsolidated joint ventures and the effect of the non-cash valuation adjustments associated with the warrants partially offset by an executive separation charge and the write-off of the original issuance costs from the redemption of the Company’s Class G cumulative redeemable preferred shares.

Net loss applicable to common shareholders for the three-month period ended September 30, 2011, was $50.0 million, or $0.18 per diluted share, which compares to a net loss of $24.9 million, or $0.10 per diluted share, for the prior-year comparable period. Net loss applicable to common shareholders for the nine-month period ended September 30, 2011, was $52.1 million, or $0.20 per diluted share, which

compares to a net loss of $156.8 million, or $0.65 per diluted share, for the prior-year comparable period. The changes in net loss applicable to common shareholders for the three- and nine-month periods ended September 30, 2011, is primarily due to the same factors impacting FFO as explained above.

LEASING & PORTFOLIO OPERATIONS

The following results for the three-month period ended September 30, 2011, highlight continued strong leasing activity throughout the portfolio:

ACQUISITIONS & INVESTMENTS

In the third quarter of 2011, the Company acquired three prime assets aggregating 463,677 square feet for a total purchase price of approximately $110.0 million. The Company assumed an aggregate of $67.0 million of mortgage debt in connection with these acquisitions. Two of the prime assets are in Charlotte, North Carolina (Cotswold Village and The Terraces at SouthPark) and one prime asset is in Colorado Springs, Colorado (Chapel Hills East). The assets range between 96% and 100% leased and are occupied by many high-quality retailers typically found in DDR shopping centers including Whole Foods, Marshalls, PetSmart, Best Buy, Harris Teeter, ULTA, Old Navy, and DSW.

As previously announced in the third quarter, the Company has an agreement to acquire Polaris Towne Center in Columbus, Ohio, for $80 million, including the assumption of $45 million in mortgage debt currently encumbering the property. Polaris is a 720,779 square-foot prime asset anchored by Target, Lowe’s, Kroger, Best Buy, T.J.Maxx, Old Navy and ULTA. In connection with this transaction, the Company anticipates selling Town Center Plaza in Leawood, Kansas for $139 million. The Company currently anticipates recognizing a gain, estimated to be approximately $60 million, in connection with the sale of Town Center Plaza, which amount is subject to change based on actual closing and other costs associated with the sale. It is anticipated that this transaction will close in the fourth quarter of 2011, subject to the satisfaction or waiver of customary closing conditions.

In September 2011, the Company invested $10 million in a loan collateralized by a prime shopping center in Miami, Florida.

DISPOSITIONS

The Company sold nine consolidated non-prime assets, aggregating approximately 0.9 million square feet, in the third quarter of 2011, generating gross proceeds of approximately $42.0 million. In addition, the Company sold $17.1 million of consolidated non-income producing assets. The Company recorded an aggregate net loss of approximately $1.4 million related to asset sales in the third quarter of 2011.

2011 GUIDANCE

The Company is tightening its guidance for operating FFO for 2011 to a range between $0.95—$1.00 per diluted share.

NON-GAAP DISCLOSURES

FFO is a supplemental non-GAAP financial measurement used as a standard in the real estate industry and a widely accepted measure of real estate investment trust (“REIT”) performance. Management believes that FFO and operating FFO provide additional indicators of the financial performance of a REIT. The Company also believes that FFO and operating FFO more appropriately measure the core operations of the Company and provide benchmarks to its peer group. Neither FFO nor operating FFO represents cash generated from operating activities in accordance with generally accepted accounting principles (“GAAP”), is necessarily indicative of cash available to fund cash needs and should be considered as an alternative to net income computed in accordance with GAAP as an indicator of the Company’s operating performance or as an alternative to cash flow as a measure of liquidity. FFO is defined and calculated by the Company as net income, adjusted to exclude: (i) preferred share dividends, (ii) gains from disposition of depreciable real estate property, except for gains generated from merchant build asset sales, which are presented net of taxes, and those gains that represent the recapture of a previously recognized impairment charge, (iii) extraordinary items and (iv) certain non-cash items. These non-cash items principally include real property depreciation and amortization of intangibles, equity income from joint ventures and equity income from non-controlling interests and adding the Company’s proportionate share of FFO from its unconsolidated joint ventures and non-controlling interests, determined on a consistent basis. The Company calculates operating FFO by excluding the non-operating charges and gains described above. Other real estate companies may calculate FFO and operating FFO in a different manner. FFO excluding the net non-operating items detailed above is useful to investors as the Company removes these charges and gains to analyze the results of its operations and assess performance of the core operating real estate portfolio. A reconciliation of net income (loss) to FFO and operating FFO is presented in the financial highlights section of the Company’s quarterly supplement.

SAFE HARBOR

DDR considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as oversupply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; constructing properties or expansions that produce a desired yield on investment; our ability to sell assets on commercially reasonable terms; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; and the finalization of the financial statements for the three-month period ended September 30, 2011. For additional factors that could cause the results of the Company to

differ materially from those indicated in the forward-looking statements, please refer to the Company’s Form 10-K for the year ended December 31, 2010. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

ABOUT DDR

DDR is an owner and manager of 538 value-oriented shopping centers representing 140 million square feet in 41 states, Puerto Rico and Brazil. The Company’s assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available at www.ddr.com.

CONFERENCE CALL INFORMATION & SUPPLEMENTAL MATERIALS

A copy of the Company’s Supplemental Financial/Operational package is available to all interested parties upon request to Samir Khanal, at the Company’s corporate office, 3300 Enterprise Parkway, Beachwood, Ohio 44122 or at www.ddr.com.

The Company will hold its quarterly conference call tomorrow, October 28, 2011, at 10:00 a.m. Eastern Daylight Time. To participate, please dial 800.638.4930 (domestic), or 617.614.3944 (international) at least ten minutes prior to the scheduled start of the call. When prompted, provide the passcode: 52381365. Access to the live call and replay will also be available through the Company’s website. The replay will be available through November 4, 2011.

DDR Corp.

Financial Highlights

(In thousands)

DDR Corp.

Financial Highlights

(In thousands)

DDR Corp.

Financial Highlights

DDR Corp.

Financial Highlights

During the nine-month period ended September 30, 2011, the Company recorded a charge of $11.0 million as a result of the termination without cause of its Executive Chairman, the terms of which were pursuant to his amended and restated employment agreement. During the nine-month period ended September 30, 2010, the Company incurred a $2.1 million separation charge related to the departure of an executive officer. Excluding these separation charges, general and administrative expenses were 4.4% and 4.9% of total revenues for the nine-month periods ended September 30, 2011 and 2010, respectively.

DDR Corp.

Financial Highlights

DDR Corp.

Financial Highlights

DDR Corp.

Summary Results of Combined Unconsolidated Joint Ventures

(In thousands)

Combined condensed income statements